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MMCC secures $7.38 million, 10-year financing for Beaumont storage
The loan is priced at a 5.75% interest rate with a 30-year amortization schedule, according to ConnectCRE.
Marcus & Millichap Capital Corporation (MMCC) arranged $7,380,000 in financing for Beaumont RV and Self Storage, a 49,958-square-foot self-storage property at 251 W. 1st St. in Beaumont, Riverside County. The deal was structured as a 10-year loan, according to ConnectCRE.
MMCC executive managing director Chad O’Connor, in the firm’s San Diego office, secured the financing with a national federal credit union on behalf of a private client. The loan carries a 5.75% interest rate and a 30-year amortization period, the outlet reported.
ConnectCRE said the property offers traditional self-storage units as well as dedicated RV and boat storage. It noted the facility is located near Interstate 10, providing access for customers across Beaumont and the surrounding Riverside County area.
O’Connor said demand for self-storage remains supported by durable sector fundamentals and the need for flexible space that serves both household and recreational uses. He added that the long-term financing and competitive terms were intended to align with the client’s investment objectives, as reported by ConnectCRE.